Global PET Radiotracer Market is expected to foresee significant growth. North America leads the growth!
- Vikas Kumar
- January 11, 2023
- HEALTHCARE, NEWS
- PET Radiotracer, PET Radiotracer Market, PET Radiotracer Market analysis, PET Radiotracer Market forecast, PET Radiotracer Market growth, PET Radiotracer Market shape, PET Radiotracer Market share, PET Radiotracer Market size, PET Radiotracer Market trends
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An imaging test called positron emission tomography (PET) can help reveal the metabolic or biochemical function of tissues and organs. The novel technology improves the diagnosis and treatment by providing detailed anatomical imaging. Furthermore, it also prevents unnecessary medical procedures and is also a cost-effective imaging technique. The PET technology plays a critical role in diagnosis, especially for scanning bone, soft tissue, and blood vessels all at the same time. In addition, a radioactive tracer is used in the PET scan to show both normal and abnormal metabolic activity.
The PET radiotracer market is expected to witness a CAGR of around 8% during the forecast period. The PET radiotracer market is anticipated to witness high growth during the forecast period which is due to the surge in the incidences of cancers globally. For instance, according to the data published by the American Cancer Society (ACS), in January 2020, around 1.8 million new cancer cases were diagnosed and 606,520 cancer deaths in the United States.
For a detailed analysis of the Global PET Radiotracer Market browse through– https://univdatos.com/report/pet-radiotracer-market/
Based on radiotracer type, the market is segmented into F-18 (FDG18), Ga-68 (FAPI), and others. Among them, the F-18 (FDG18) category is to witness a higher CAGR during the forecast period. Accurate diagnosis and staging are essential for the optimal management of cancer patients. Positron emission tomography with F-18 (FDG18) integrated with computed tomography has emerged as a powerful imaging tool for the detection of various cancers which will drive market growth.
On the basis of application, the market is categorized into cancer, heart disease, gastrointestinal, endocrine, neurological disorders, and others. Among these, cancer to hold a significant share of the market in 2020. This is mainly due to the growing applications of PET radiotracers in the diagnosis of various types of cancers including lumps and tumors are the factors expected to drive the segment. The introduction of innovative technologies including computer-aided detection and computer-aided diagnosis of suspicious cancer nodules and assessing the risk of malignancy, especially in lung cancer, is expected to boost the growth of the market.
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For a better understanding of the market adoption of the PET radiotracer market, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing presence of well-established market players in the region, advancements in Positron Emission Tomography (PET) radiotracer and related services, and the growing population with an increasing number of cancer cases. For instance, according to the American Cancer Society (CMS), in 2022, around 99,780 new melanomas will be diagnosed (about 57,180 in men and 42,600 in women). About 7,650 people are expected to die of melanoma in the U.S. Moreover, the availability of major key players and manufacturers progressively increases its capacity to meet the growing global demand for PET radiotracers. These factors also contribute to the growth of this market.
Some of the major players operating in the market include ABX advanced biochemical compounds GmbH, Blue Earth Diagnostics, Cardinal Health, Eli Lilly and Company, GE Healthcare, IBA Radiopharma Solutions, Jubilant Pharma Limited, Lantheus Holdings Inc., Yantai Dongcheng Pharmaceutical Group Co. Ltd, and Siemens Healthineers AG.
Global PET Radiotracer Market Segmentation
Market Insight, by Radiotracer Type
- F-18 (FDG18)
- Ga-68 (FAPI)
Market Insight, by Application
- Heart Disease
- Neurological Disorders
Market Insight, by End-User
- Diagnostic Centers
Market Insight, by Region
- North America
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- ABX advanced biochemical compounds GmbH
- Blue Earth Diagnostics
- Cardinal Health
- Eli Lilly and Company
- GE Healthcare
- IBA Radiopharma Solutions
- Jubilant Pharma Limited
- Lantheus Holdings Inc.
- Yantai Dongcheng Pharmaceutical Group Co. Ltd
- Siemens Healthineers AG